Understanding Your Credit Score

Credit Education Center (by Experian)www.experian.com/credit-education/credit-information.html Credit plays an important role in your life — affecting the purchases you make and much more. The more insight you have about credit, the easier it is to strengthen your financial well-being. For more than a decade, Experian has been America’s number one provider of credit information. In addition to credit reports, we offer credit help online to teach you how to successfully manage your credit rating and protect against credit card fraud.

What’s My Score (created by Visa USA)www.whatsmyscore.org This website is geared toward teens and young adults. The site contains a Money Guide that includes college-related financial information, such as saving for college, buying a car, and renting an apartment. This guide has very detailed information about managing money: for instance, it explains the difference between a credit card and debit card. The website also has a wealth of information about using credit knowledgeably and wisely.

MyFICOwww.myfico.com MyFICO is a website devoted to credit education. You can find information about all things related to credit, such as choosing credit cards, obtaining and understanding credit scores, and identify theft. There is also information about loans as a form of credit, especially ways to calculate how much money a person would pay in interest if they had a certain rate.

Financial Calculators

Mortgage Loan Calculatorwww.freddiemac.com/homeownership/calculators/ These homeownership and mortgage loan calculators, from Freddie Mac, will help you understand the financial differences between renting and homeownership. Additionally, calculate how much you can borrow or afford, understand the financial differences between fixed- and adjustable-rate mortgages, estimate closing costs, or learn how a different term (for example, a 15-year vs. 30-year term) affects your mortgage payment and overcall cost of the loan.

Savings & Retirement Estimatorwww.ssa.gov/retire2/estimator.htm The Social Security Administration’s Retirement Estimator calculator will provide estimates based on your actual Social Security earnings record. Other useful links from this calculator include estimating your life expectancy and guidance on the best age to start receiving retirement benefits. You can use the retirement estimator if:

you have enough Social Security credits to qualify for benefits and you are not:

currently receiving benefits on your own Social Security record;

age 62 or older and receiving benefits on another Social Security record;

or eligible for a pension based on work not covered by Social Security.